Gustan Cho Associates originate and fund warrantable and non-warrantable portfolio condominium loans in California up to $5 million. California is one of our top condo markets at Gustan Cho Associates.
Financing a condominium is a little different from financing a single family home.
Rules govern the allowable percentage of rental units, amount of commercial space, and the number of units behind on their dues.
The developer must have turned the management of the property to a homeowners association (HOA).
The management must be in good shape financially and the development must be in good shape and marketable.
Lenders are picky about condominiums because condominium mortgages are riskier than loans secured by single family homes.
This article covers FHA Condo Loans Mortgage Guidelines And Requirements HUD, The U.S. Housing And Urban Development, is the parent of The Federal Housing Administration (FHA). FHA is not a lender FHA is a government agency whose role is to insure and guarantee FHA Loans that is originated by HUD Approved Lenders FHA Loans are […]
Fannie Mae and Freddie Mac do not allow financing on non-warrantable condos. Only warrantable condos can be financed on conventional loans.
This Article Is About Issues With Condominium Financing And Mortgage Options We can help you get qualified for a condominium purchase. APPLY NOW with Gustan Cho Associates and get qualified and approved for a condominium loan. Condominium Financing is different than financing single-family homes. This is because lenders view condominium financing as riskier mortgage loans. […]